Heritage Investors Management Corp boosted its holdings in BP plc (NYSE:BP) by 17.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 21,371 shares of the oil and gas exploration company’s stock after purchasing an additional 3,200 shares during the quarter. Heritage Investors Management Corp’s holdings in BP were worth $985,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BP. Chemical Bank bought a new position in shares of BP during the 3rd quarter valued at about $329,000. Gerber Kawasaki Wealth & Investment Management bought a new position in shares of BP during the 3rd quarter valued at about $310,000. Capital Innovations LLC boosted its holdings in shares of BP by 160.6% during the 3rd quarter. Capital Innovations LLC now owns 28,140 shares of the oil and gas exploration company’s stock valued at $1,297,000 after purchasing an additional 17,340 shares during the last quarter. Becker Capital Management Inc. bought a new position in shares of BP during the 3rd quarter valued at about $303,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of BP by 11.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 265,320 shares of the oil and gas exploration company’s stock valued at $12,231,000 after purchasing an additional 26,300 shares during the last quarter. Institutional investors and hedge funds own 10.93% of the company’s stock.

Shares of NYSE:BP opened at $41.24 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.22 and a debt-to-equity ratio of 0.53. BP plc has a 12 month low of $36.15 and a 12 month high of $47.83. The stock has a market capitalization of $143.37 billion, a P/E ratio of 21.94, a price-to-earnings-growth ratio of 0.68 and a beta of 0.85.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, October 30th. The oil and gas exploration company reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.29. BP had a net margin of 2.91% and a return on equity of 11.14%. The firm had revenue of $79.47 billion during the quarter, compared to the consensus estimate of $75.31 billion. During the same quarter last year, the firm earned $0.09 EPS. The firm’s revenue for the quarter was up 32.4% compared to the same quarter last year. On average, sell-side analysts forecast that BP plc will post 3.57 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 9th will be issued a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date is Thursday, November 8th. BP’s payout ratio is 129.79%.

BP has been the subject of several research reports. Goldman Sachs Group raised shares of BP from a “buy” rating to a “conviction-buy” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded shares of BP from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Morgan Stanley raised shares of BP from an “equal weight” rating to an “overweight” rating in a report on Wednesday, September 5th. HSBC raised shares of BP to a “buy” rating in a report on Monday, July 30th. Finally, Santander raised shares of BP from an “underperform” rating to a “hold” rating in a report on Friday, August 31st. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $54.22.

TRADEMARK VIOLATION WARNING: “Heritage Investors Management Corp Has $985,000 Holdings in BP plc (BP)” was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright legislation. The correct version of this news story can be read at https://www.dailypolitical.com/2018/11/10/heritage-investors-management-corp-has-985000-holdings-in-bp-plc-bp.html.

BP Company Profile

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

Recommended Story: Growth Stocks

Want to see what other hedge funds are holding BP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BP plc (NYSE:BP).

Institutional Ownership by Quarter for BP (NYSE:BP)

Receive News & Ratings for BP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP and related companies with MarketBeat.com's FREE daily email newsletter.